Posts Tagged ‘Pharma’

India’s Exports Rise to the Highest in the Past 15 Months

India's exports rise to the highest in the past 15 months

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Growing for the second straight month, India’s exports touched $14.6 billion in December.

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This is the highest in the past 15 months, helped by an uptick in demand for merchandise in the western markets.

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“We have registered exports of $14.6 billion in December,” commerce and industry minister Anand Sharma told.

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The December growth is about 16% from a year ago, while the expansion is about 10% compared to shipments in November this fiscal.

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The two straight months of growth comes after exports fell for 13 months in a row since October 2008.

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Sharma said going ahead the momentum would be maintained.

He, however, added that exporters are yet to recover from the setback of the past 13 months.

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Sectors like engineering, auto components and pharma helped exports rise again.

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Analysts said December growth has come about on a low base last year when the global demand dropped sharply due to the global recession.

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The December figure reflects the best ever performance since August 2008 when exporters shipped goods worth $16 billion.

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Demand for the Indian products seems to be reviving in the western markets. πŸ™‚

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Fiscal deficit at $65.7 billon for Apr-Nov: Govt

The fiscal deficit of India for the period between April to November stood at Rs 3.06 trillion ($65.7 billion), or 76.4 percent of the full-year target, the government said in a statement on Thursday. The tax receipts stood at Rs 2.33 trillion and a total expenditure stood at Rs 6.22 trillion for the first eight months of the financial year 2009/10.

In July, the government had forecasted fiscal deficit of Rs 4 trillion, or 6.8 percent of gross domestic product (GDP), for 2009/10.

The finance minister Pranab Mukherjee earlier this month had said that the fiscal deficit would not cross the target of 6.8 per cent of the gross domestic product (GDP). With the prevailing trends in the receipts and expenditure, along with better than expected economy performance in the second quarter of the current fiscal, it is expected that the fiscal deficit will remain with the estimate of 6.8 per cent.

However, the direct tax collections by the government increased by a marginal 3.7% to Rs 1.83 lakh in the first 8 months of this fiscal. Further, in the personal income tax segment, the government collected Rs 70,262 crore, up 4.53% while in November, the tax collections were nearly similar to last year as the mop-up was Rs 10,375 crore.

Moreover, the corporate tax collections declined by about 30% to Rs 3,214 crore against Rs 4,561 crore last fiscal while in the April-November period, the collections by way of the Security Transaction Tax stood at Rs 4,349 crore, up 4.44%.

The Finance Minister, Mr. Pranab Mukherjee, yesterday stated that the Indian economy cannot sustain a high fiscal deficit for very long and it is, however, still too early to pull out of the fiscal stimulus.

“We shall have to strike a balance between the requirement of the economy and also the capacity of the economy to bear this level of fiscal deficit and borrowing,” the Finance Minister said on the sidelines of a Corporation Bank event.

Select Pharma Stocks Gain On Tamiflu Demand :)

Pharma Stocks

As the Government is looking at ramping up procurement of the generic version of Tamiflu (oseltamivir), the share prices of those Indian pharma companies which might begin producing the drug, surged on Tuesday.

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The share prices of these companies gained between two per cent and 19 per cent.

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As the virus has reached pandemic levels with the death toll rising to fifteen and a large number of people having tested positive across the country, the Government is looking at stockpiling about another two crore capsules of the drug.

Tamiflu is currently being imported from Swiss drug maker, Roche.

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Ranbaxy, Cipla, Natco Pharma, Strides Acrolabs and Panacea Biotech are vying to produce the generic version of the drug.

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Strides closed up 4.78 per cent, Ranbaxy 6.71 per cent, Panacea Biotech 1.59 per cent and Natco Pharma 18.93 per cent.
Though Cipla closed the day down 0.48 per cent, it was up more than three per cent during the day.

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Mr Jagannadham Thunuguntla, Equity Head at SMC Capital said that the Government looking at stocking up the drug immediately would boost the reputation of these companies.
β€œThis will not impact the bottomlines of these companies much.”

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The Swine flu virus, which emerged in Mexico and the US first in April, has been spreading to other countries. 😦

It is a global pandemic which has hit India much later than other countries. Globally more than 1.6 lakh people have been affected and 1154 deaths have been recorded, according to the World Health Organisation.

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The swine flu scare didn’t seem to affect the stock markets much as it ended the day flat; the Sensex closed up 64 points.

The BSE Health Care index was up 0.95 per cent, as 14 scrips advanced and 8 declined on Tuesday.

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